Interested in State Tax Incentives?
Interested in expanding your business or number of employees while gaining helpful tax credits from the state? Check into the Kentucky
Business Investment (KBI) Program, through the Cabinet for Economic Development. Click here to find out more about this program.
To find out about Kentucky family owned, GreenTree Forest Products and their investment in Rowan and Fleming County click here.
|
Forest Industry Economic Impact
Numbers in From 2015
Kentucky plays a pivotal role in providing forest products to the U.S. and beyond; the forestry sector is a major economic force in the commonwealth. Estimates of the economic contribution and related 2015 statistics include:
- $8.77 billion in direct economic contribution.
- $13.7 billion in total economic contribution a 5.48% increase over 2014.
- 27,681 jobs in the forest industry and an estimated 57,750 jobs overall.
- 713 facilities located in 109 of Kentucky's 120 counties, gaining 10 facilities since 2014.
To see the additional information click here.
|
Update on Timber Trespass in Kentucky
A resolution has passed the Kentucky house Natural Resource and
Environment Committee and is awaiting a vote in the full house to
establish a Timber Theft and Trespass Reduction Task Force. The intentions of the task force will be to study issues surrounding timber
theft and trespass to help make informed recommendations on how to address these issues. As many of you know this topic has been brought up for legislation in previous sessions. A fact sheet has been provided to help inform the conversation relating to unauthorized cutting. We will keep you updated on this topic as its status changes.
In response to a request from Kentucky Forest Industries Association and Kentucky Division of Forestry, the University of Kentucky has generated a report on current trespass in Kentucky. This was completed with assistance from the Kentucky Association of Consulting Foresters. From the information gathered there is verifiable, quantifiable data available for usage within the industry and legislature.
|
December Housing Report Update
December's housing data is mixed - total housing starts down by2.5% (m/m), single family homes down by 3.3%, and permits down by 3.9%. However, completions were up by 5.6% (m/m) and existing home sales were up by 14.7% from November's data. First time buyers still at 32%, well below the more typical 40% and household formation remains below trend as well. Multi-family housing still strong with 34% of total and rents still increasing, thereby further strengthening the importance of multifamily construction. Reasons for these numbers are likely tied to global economic slowdown and uncertainty as well as a real unemployment rate of 10.3% (16 million individuals' unemployed, stopped looking or work part time).  To read more of the Housing report provided by Virginia Tech please click here.
The housing report is a free service of Virginia Tech and is intended to help you gauge future business activity. All past housing reports are archived here.
|
In the Second Half of 2015 Red Oak Shipments from North America to China Were Incredibly Strong and the Architectural Billings Index Fell in 2015. Will These Trends Continue into 2016?
Red oak lumber shipments from North America into China werescorching in the last half of 2015. Shipments have been moving at a record breaking pace. With China's economic woes, will that mean the pace will slow as we move into 2016? The February issue of The Hardwood Leader mentioned the concern and had this to say about China, Red Oak, and 2016.
 "China is still actively buying upper-grade Red Oak. However, the record-breaking surge in shipments from Aug-Nov, coupled with China's economic slump, raises concerns that first half Red Oak shipments could be slow again this year. On the bright side, landed inventories are reportedly not as large today as at this time last year. KD 4/4 Red Oak uppers rose nearly $100 from Oct through year-end, and green prices rose in tandem, but producers who held back Red Oak waiting for even higher prices are now meeting with resistance from foreign buyers." The February issue of the Hardwood Leader was also concerned with the Architectural Billings Index or ABI that was released in November of 2015. The indicator doesn't look promising for the millwork and architectural casegood producers. This is what the Hardwood Leader had to say. "The American Institute of Architects released its Nov Architectural Billings Index (ABI) on Dec 16. The ABI is a 9 to 12- month leading indicator of construction spending. The Nov indicator fell to 49.3, from Oct's 53.1, indicating a decrease in design services that could portend a small slowdown in late-2016 construction activity, and resultantly lower demand for mouldings, millwork and flooring in new construction projects."
Courtesy of "Market-In-A-Minute", The Hardwood Leader, February 2016, The Hardwood Leader is a publication of Hardwood Publishing, Inc. www.hardwoodreview.com
Look for snippets and short articles from The Hardwood Leader in future issues of the Kentucky Wood Industry E-News.
|
Kentucky Distillers Association
Contributes to UK Forestry Department
The Kentucky Distillers Association (KDA) kindly made a  contribution to the University of Kentucky Forestry Department for their "commitment to protecting our valued Kentucky White Oak supply." The UK Forestry Department thanks the KDA for investing in the sustainability of Kentucky's forests and our conservation of the all the values that our forests represent to the Commonwealth.
|
5 Day Lumber Grading Course
Morehead, KY. March 7-11, 2016
This short course will be taught by Benji Richards, NHLA National Inspector.
FEES & REGISTRATION
The seminar fee includes registration, NHLA Rules Book, Student Manual for Lumber Grades, Certificate of Completion and lunch each day. Notebook, clipboard, pen/pencil, grading stick and pocket calculator will be provided. This course is limited to 25 attendees. Pre-registration is required with payment. Registration will be determined on a first-come, first-serve basis. Registration deadline is March 1, 2016. $600 per student/$500 per person when registering 3 or more from your company.
For more information click here.
|
Want to Learn More About the Lacey Act?
Click here for a "Common Questions" sheet.
The agency responsible for handling all Lacey Act is APHIS. Click here for a link to the website for more information and forms.
|
